Thomas Cadillac has agreed to sell its...

Thomas Cadillac has agreed to sell its 5.9-acre downtown site, well-known to travelers on the Harbor Freeway, to W&M; Partners Development Corp., a partnership between Watt Industries, a Santa Monica home builder, and Kent Merselis, former chief of Ahmanson Commercial Development. The price of the parcel, which is expected to close escrow between March 15 and May 15, was not disclosed but is reportedly about $57 million.